One True Media Raising $10M
One True Media has raised $8 million of a $10 million second round of funding, including $2 million in convertible notes, peHUB reported this morning, based on information from a regulatory filing. The investment came from DAG Ventures and Kleiner Perkins. Kleiner Perkins had previously provided $5 million in Series A funding in June 2006.
The Redwood City, Calif.-based company, which provides personal video- and photo-sharing tools similar to Slide.com as well as physical products like DVDs, declined comment on the investment round. Earlier this year, One True Media introduced a separate business, called SpotMixer, that offers self-serve online video ad creation for small businesses. It later scored a deal to be promoted within Google’s TV advertising setup process.
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I can’t actually imagine how much money they make… They say they have more than 3,000,000 users, but do they have that many premium users? And how many DVDs do you think they sell? (It’s hard to imagine people paying that much for stuff that’s actually pretty easy to do by yourself…)